Smart, automated workflows can help. As can advanced analytics and data tools that run
sophisticated algorithms to reveal patterns and relationships in the data. Combined with new
visualization tools, financial personnel can "see" the data in ways they could only dream of
before. Artificial intelligence and machine learning can take the mass amounts of financial
data and consolidate them into something meaningful and actionable.
Predicting market interest fluctuations
Calculating cash flow and potential changes
Analyzing international exposure and assets to manage suppliers and forecast
finances
Automating trades, deals, and sales
Developing and executing contracts
Automating and optimizing insurance renewals
Generating automatic reports to assess financial health
Reporting cost-allocation justifications for business departments
Here are some of the best uses for advanced analytics to mitigate financial risks:
Of course, financial planning will look different in every organization. However, using AI and
machine learning can streamline several processes and identify places to save money. This
may add up and make a huge difference in the long run.
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